Cybersecurity Acquisitions in 2022

Fortified Health Security, a managed security service provider focused on healthcare, received a majority growth investment led by Silversmith Capital Partners and Health Velocity Capital with participation from Nordic Consulting. The capital will be used to accelerate Fortified's technology roadmap (including a unified cybersecurity platform), expand sales, and scale operations to better serve hospital systems and other healthcare providers.

ATSG, a RunTide Capital-backed tech-enabled managed services company, acquired Miami-based Xentaurs, LLC to enhance its cybersecurity portfolio and managed detection and response (MDR) capabilities. The deal expands ATSG’s security consulting, hybrid cloud and MDR offerings and strengthens its presence in the Southeast United States.

Security On-Demand, with backing from Nautic Partners, has acquired Booz Allen Hamilton’s commercial Managed Threat Services (MTS) business and combined it with its operations under the new brand DeepSeas. The combined organization will offer advanced managed detection, threat intelligence, and incident response services to mid-market and enterprise clients, and Booz Allen will remain a strategic collaborator for federal work.

AlgoSec acquired Prevasio, a SaaS cloud-native application protection platform (CNAPP) that provides agentless CSPM, container vulnerability scanning, and dynamic analysis. The acquisition expands AlgoSec's cloud-native security capabilities by incorporating Prevasio's SRI-derived AI technology to offer cost-effective, agentless cloud security across multi-cloud and container environments.

Volaris Group, an operating group of Constellation Software Inc., completed the acquisition of the former Cognyte Situational Intelligence Solutions (SIS) business and relaunched it under the new brand Intellicene. The company, headquartered in Melville, New York, will continue to develop and commercialize the Symphia situational-intelligence platform with renewed leadership and support from Volaris to accelerate growth and market expansion.

Open Systems, a global provider of managed detection and response (MDR) and SASE services, has acquired Tiberium, a London-based provider of automated managed security/XDR services built on Microsoft security technologies. The acquisition brings Tiberium's automation and Microsoft Teams–based collaboration capabilities into Open Systems' platform to accelerate detection, response and customer collaboration.

CloudWave, a healthcare-focused cloud and managed IT provider, has acquired Sensato Cybersecurity and integrated Sensato’s Cybersecurity-as-a-Service platform into its OpSus offering. Sensato founder John Gomez will join CloudWave as chief security and engineering officer; financial terms were not disclosed.

C3 Integrated Solutions and Steel Root have merged to create a CMMC-centric managed services provider for the U.S. Defense Industrial Base, with a substantial equity investment from M|C Partners. The combined business will operate under the C3 Integrated Solutions name and expand end-to-end CMMC, Microsoft GCC High, and managed cybersecurity capabilities for government contractors.

ThreatLocker, an endpoint protection company based in Maitland, Florida, has acquired Third Wall (Harmonity Holdings LLC dba RMM Plus), a lockdown security plug-in for ConnectWise Automate. The deal integrates Third Wall's automated lockdown policies into ThreatLocker's allowlisting and ringfencing platform to strengthen endpoint protection and compliance capabilities for Managed Service Providers (MSPs).

Toronto-based cyber insurtech BOXX Insurance has acquired Palo Alto–based cyber threat intelligence platform Templarbit. The deal brings Templarbit's cloud-native threat intelligence and vulnerability monitoring technology and its founder Bjoern Zinssmeister (joining BOXX as Head of Engineering) into BOXX's R&D division to bolster BOXX's proactive cyber risk protection capabilities for SMB customers.

Secure-IC has acquired the security business of Silex Insight, bringing Silex's flexible and scalable security IP cores into Secure-IC’s embedded security portfolio. The deal expands Secure-IC’s chip-to-cloud offering and lifecycle management capabilities for device makers and OEMs; Silex Insight will transfer its security business to Secure-IC and its customers will continue to be supported.

1Password has acquired Passage (Passage Identity), a developer-first passwordless authentication startup, to accelerate its move to passkeys and passwordless authentication. The entire Passage team — including co-founders Cole Hecht and Anna Pobletts — will join 1Password as the company integrates Passage's technology into a passwordless platform for enterprises and consumer-facing apps.

HUMAN Security, Inc. (HUMAN) has acquired clean.io, a Baltimore-based leader in client-side anti-malvertising and digital engagement security. The acquisition (terms undisclosed) adds clean.io's malvertising protections and talent to the HUMAN Defense Platform to expand capability across advertising, publishing and e‑commerce environments.

Invictus Growth Partners led a $36 million growth equity investment in Binary Defense Systems to accelerate the company's go-to-market, expand machine learning capabilities, and build a Managed Open XDR offering. Binary Defense, a Cleveland-area managed detection and response provider founded by David Kennedy and Mike Valentine, will use the capital to scale sales and marketing, broaden partnerships, and enhance its technology-enabled security services.

Applus+ has acquired Lightship Security, a North American cybersecurity testing and product‑certification laboratory based in Ottawa, Canada. The acquisition expands Applus+ Laboratories' product certification capabilities—adding North American accreditations and strengthening its global cybersecurity certification offering for connected products and critical sectors.

Intel 471, a cyber threat intelligence provider, has acquired SpiderFoot, an open-source intelligence (OSINT) automation and attack-surface management platform. The acquisition will integrate SpiderFoot's capabilities into Intel 471's TITAN platform and bring SpiderFoot founder Steve Micallef into Intel 471 as Vice President of Attack Surface Technology; terms were not disclosed.

Newfold Digital has completed its acquisition of MarkMonitor, an enterprise provider of domain management and protection solutions, from Clarivate. The deal, announced November 1, 2022, strengthens Newfold's enterprise domain management and security capabilities; Newfold is backed by affiliates of Clearlake Capital and Siris Capital.

SilverEdge Government Solutions, a Godspeed Capital-backed platform, has partnered with/acquired Counter Threat Solutions (CTS), bringing CTS’ all-source and counterintelligence analysis, identity intelligence, enterprise IT, and software development capabilities into the SilverEdge platform. The deal adds more than 100 cleared technical and mission support staff to SilverEdge’s team (bringing the platform's cleared workforce to ~450) and strengthens its mission-focused offerings to the U.S. Intelligence Community and select Department of Defense customers.

Global consulting firm J.S. Held has acquired TBG Security, a cybersecurity consultancy specializing in offensive and defensive cyber consulting, penetration testing, and incident response. The acquisition expands J.S. Held’s cyber security and investigations capabilities and adds TBG’s specialized team to its Global Investigations Practice in North America.

NINJIO, a Los Angeles–area cybersecurity awareness company, has acquired DCOYA, an AI- and behavior-focused cybersecurity awareness platform. The acquisition combines NINJIO's engaging micro-learning content and phishing simulations with DCOYA's machine-learning behavioral analytics to deliver a more personalized, data-driven security awareness solution for organizations.

Red Sift has acquired Hardenize, an attack surface management (ASM) innovator, to integrate Hardenize’s continuous discovery and security posture capabilities into Red Sift’s Digital Resilience Platform. The acquisition extends Red Sift’s email- and domain-focused security offerings to provide comprehensive visibility and remediation across customers’ internet assets and network perimeter, strengthening its enterprise cyber-resilience proposition.

SilverEdge Government Solutions, backed by Godspeed Capital Management, has acquired QVine LLC to add the company's SOAR software development platform and software engineering capabilities to SilverEdge's offerings for the U.S. Defense and Intelligence Communities. QVine's leadership will remain in place and co-invest in the transaction, expanding SilverEdge's SaaS, AI/ML, and cloud capabilities for intelligence customers.

Volpi Capital has partnered with UK-based networking and cybersecurity services provider Xalient to accelerate international growth, expand the product portfolio, and scale the business through M&A and further investment. The deal will see Volpi join Xalient’s board and support the company’s expansion across the US, UK, India and Europe while developing its AiOps product suite and managed services.

KKR is increasing its investment in NetSPI with a $410 million growth funding round to support the company's technology innovation, talent acquisition, and global expansion while recapitalizing NetSPI's first institutional investor, Sunstone Partners. The funding comes from KKR's Technology Growth strategy and follows prior investments in NetSPI as the company scales its PTaaS, Attack Surface Management, and related offensive security offerings.

Qualys, Inc. acquired the assets of AI/ML cybersecurity provider Blue Hexagon and will integrate Blue Hexagon’s deep-learning network detection capabilities into the Qualys Cloud Platform to provide predictive analytics and real-time threat detection. All Blue Hexagon employees joined Qualys, with Blue Hexagon CEO Nayeem Islam joining as VP of product management; the deal closed on October 4, 2022 and was paid mostly in cash with a portion in stock.

Edison Partners led a $30 million funding round in Ottawa-based cyber security company Field Effect, contributing $20 million with other strategic investors providing the remaining $10 million. The growth capital will be used to scale sales and marketing (with a focus on channel and brand), accelerate product and service development, and expand commercial operations including e-commerce.

iC Consult Group, a Carlyle Group portfolio company, has acquired Kapstone Technologies LLC, a Somerset, New Jersey–based provider of identity and security managed services. The acquisition expands iC Consult's managed services and offshore capabilities (notably in India) and strengthens its U.S. execution capacity in Identity & Access Management (IAM).

Enlightenment Capital-backed Infinite ID, a newly branded identity software and biometric solutions provider, has acquired PrintScan, a fingerprinting and identity management company. The transaction positions Infinite ID to expand its biometric capabilities and pursue growth in federal, state and local government identity and background-check markets.

ASGN Incorporated has acquired Iron Vine Security, a Washington, D.C.-based cybersecurity firm with a team of over 230 professionals. Iron Vine will join ASGN's ECS Federal segment to expand ASGN's cybersecurity and zero-trust capabilities for federal customers.

Kocho, a UK cyber security, identity and managed services provider, has acquired Surrey-headquartered Mobliciti, an MSP specializing in enterprise mobility, mobile threat detection and wireless connectivity. The deal expands Kocho's service capabilities in mobile security and enterprise mobility management; terms were not disclosed.

Zscaler, Inc. completed the acquisition of ShiftRight, a startup specializing in closed-loop security workflow automation, and is integrating ShiftRight's technology into the Zscaler Zero Trust Exchange platform. The deal (closed in Zscaler's fiscal Q4 ended July 31, 2022) will automate security management, reduce incident resolution time and provide greater visibility into customers' security posture; terms were not disclosed.

Jamf agreed to acquire ZecOps, a mobile detection and response specialist, to extend Jamf's mobile security capabilities and accelerate mobile threat investigations. The transaction, announced September 26, 2022, closed in Q4 2022 (reports cite a ~USD 45.2 million consideration) and will integrate ZecOps' advanced mobile threat hunting, forensics and incident response into the Jamf platform.

Vector Capital will make a strategic $100 million minority growth investment in Malwarebytes to accelerate product innovation, expand its channel and MSP programs, and consolidate ownership. As part of the deal, two Vector Managing Directors will join Malwarebytes' board; the transaction is expected to close in Q4 2022.

CrowdStrike has agreed to acquire Reposify, an external attack surface management (EASM) vendor, to strengthen its threat intelligence and ITSecOps capabilities. The acquisition will integrate Reposify’s internet-scanning and asset-discovery technology into CrowdStrike’s platform to provide customers with enhanced visibility and prioritization across internal and external attack surfaces.

Volaris Group has acquired Hitachi ID Systems, Inc., which will operate as Bravura Security and continue to deliver identity, privileged access, password and passwordless management solutions. The acquisition gives Volaris a foothold in the identity and privileged access management market and supports its strategy to build a broader cybersecurity portfolio.

NortonLifeLock has completed its previously announced acquisition of Avast, combining the two consumer cyber-safety businesses into a single public company. The transaction paid Avast shareholders a mix of NortonLifeLock shares and cash and will delist Avast from the London Stock Exchange; the combined company will operate under NortonLifeLock (pending a future name and ticker change).

Celerium Inc. has acquired Dark Cubed to expand its active cyber defense capabilities. The deal integrates Dark Cubed's automated, SaaS-based network defense — used by SMBs and DoD contractors through MSP partners — into Celerium's Cyber Defense Network to accelerate product development and market reach.

Apax (via its Apax Development and APEO funds) acquired a majority stake in Mailinblack, a Marseille-based cybersecurity software company, with co-investment from the NewAlpha Verto fund and continued participation from managers and historic shareholders. The investment will fund product expansion (email protection, training, password management, secure transfer) and international growth as Apax aims to consolidate Mailinblack's leading position in Europe and significantly scale revenue by 2026.

Reciprocity, a provider of cyber risk and compliance software built around its ROAR platform, has closed a $60 million strategic growth investment from Francisco Partners. The capital will be used to accelerate product innovation and expand go-to-market activities to serve CISOs and business leaders.

Distology has acquired Germany-based Squareball Digital, a specialist in Identity and Access Management, as a bolt-on to expand its security services in Europe. The acquisition was supported by Distology's investor NorthEdge and strengthens Distology's IAM capabilities and presence in the German market.

ACRE completed the acquisition of Security Identification Systems Corporation (SISCO), adding SISCO’s visitor management and credentialing solutions to ACRE’s security technology portfolio. The deal, announced September 8, 2022, expands ACRE’s cloud and on‑premise access control capabilities and strengthens its presence across verticals such as airports, healthcare, education and cruise lines.

NorthEdge has completed an investment into Friend MTS, a Birmingham-headquartered provider of video content security and anti-piracy solutions. The funding (from NorthEdge Fund III alongside co-investors) will support product investment, hiring and global expansion, and NorthEdge will join the Friend MTS board to help accelerate growth.

Hornetsecurity, a Hanover-based cloud security and compliance SaaS provider, has received a strategic growth investment from TA Associates, joining existing investors PSG Equity and Verdane in a co-control partnership with management. The capital will support product build-out, international expansion and continued M&A as Hornetsecurity scales its email security, backup and compliance offerings.

The Adista Group, supported by majority shareholder Keensight Capital, has acquired Cyberprotect, a Lyon-based managed cybersecurity operator. Cyberprotect will become Adista’s dedicated cybersecurity subsidiary, adding its CyberproVerse SOC and managed security services to Adista's cloud, hosting and telecom offerings to serve SMEs, mid-caps and public-sector clients.

Cerberus Cyber Sentinel Corporation (NASDAQ: CISO), a Scottsdale-based managed cybersecurity and compliance provider, has completed the acquisition of NLT Secure, a cybersecurity company headquartered in Providencia, Chile with a U.S. office in Tampa, Florida. NLT Secure becomes a wholly owned subsidiary and will continue to be led by founder Lorenzo Espinoza as Cerberus accelerates its growth and service offering into Latin America.

Bitwarden secured a $100 million minority growth investment led by PSG with participation from existing investor Battery Ventures. The funding will accelerate Bitwarden's product expansion — including developer secrets, passwordless technologies, and authentication — to serve both individual users and business customers globally.

HelpSystems acquired Amsterdam-based Outflank to expand its Offensive Security capabilities, adding Outflank’s adversary simulation services, specialist training, and the Outflank Security Tooling (OST) SaaS offering. The acquisition brings advanced red teaming expertise and tooling into HelpSystems’ cybersecurity portfolio to better support financial institutions, multinational firms, and other enterprise customers.

Francisco Partners has made a strategic growth investment in Drawbridge, a cybersecurity software provider focused on the alternative investment industry. Existing investor Long Ridge and Drawbridge's leadership team remain significant equity holders; the capital will be used to accelerate product development and expand Drawbridge's market reach. The transaction closed on September 1 with terms undisclosed.

Sigma7, a portfolio company of Growth Catalyst Partners, acquired Intelligence Fusion, a Durham, UK-based threat intelligence data and software provider, from The Finance Durham Fund (administered by Maven Capital Partners). The deal expands Sigma7's risk information and services platform by integrating Intelligence Fusion’s real-time threat visualization and intelligence capabilities as part of its ongoing add-on acquisition strategy.

HCAP Partners, with financing support from BOK Financial, invested in Lumifi Cyber to fund Lumifi’s acquisition of Datashield from ADT. The deal combines Lumifi’s AI-enabled MDR platform with Datashield’s MDR services and SOC capabilities to expand Lumifi’s managed detection and response offering.